3volution’s corporate team has advised on an acquisition which brings two of the UK gaming industry’s most successful independently owned companies together.
Leeds-based Dransfield Novelty Company Limited has acquired the entire issued share capital of Gameco Holdings Limited, owners of Reflex Gaming, for an undisclosed sum. The transaction, will see the Reflex senior team led by Quentin Stott remain in place, brings together the UK’s largest independent machine operator and the UK’s largest independent gaming machine manufacturer.
Dransfield Managing Director, Chris Haley, commented: “Dransfields and Reflex have had an excellent relationship for many years and the acquisition is a perfect fit for Dransfields, securing as it does, UK manufactured machines supply for existing and future customers. It is a great strategic fit which will enable Dransfields to explore further opportunities within the UK gaming machine industry. I look forward to working with Reflex in this exciting new phase for the company.
“Thanks to Michael and his team at 3volution everything went very smoothly. They provided us with excellent support and advice and have been very focussed ensuring we achieved our acquisition goals within the timescale we required.”
Quentin Stott, Managing Director of Reflex said: “We have always been fiercely independent and proud to be British owned. Our new ownership under Dransfields keeps both of these values in place and provides us with the investment and opportunity needed to further develop the company.”
He added: “Over recent years, the low stake gaming machine sector has seen a number of high profile international acquisitions of UK gaming machine manufacturers and operators. This has resulted in the creation of some polarised and powerful groups of vertically integrated supply lines to the pub retailers and motorway service stations. The newly combined businesses of Dransfields and Reflex creates a new and credible alternative for retailers.
“Over the past 15 years I have enjoyed exceptional support from our customers and suppliers as well as from a talented and loyal group of employees for which I am truly grateful. I am delighted to confirm that Mat Ingram becomes a Director of Reflex and I look forward to addressing the many new opportunities that lie ahead for the combined companies.”
Established over 70-years ago, Dransfield remains family owned with third generation Robert Dransfield the current Chairman of a business that turns over in excess of £23m a year. Currently operating in over 5,000 sites and servicing in excess of 14,000 pieces of equipment, Dransfield is the pre-eminent supplier to the private club and free trade sectors and has an increasing supply into the pub retail sector.
The originator of the ‘Nudge’ feature, the company has been adept at introducing machine innovations, working closely with key manufacturers to ensure that its customers have access to the widest variety of analogue and digital gaming machines. Employing 244 people and with its head office in Leeds, Dransfield provides full national coverage with operational depots in ten locations covering England, Scotland and Wales.
Established in 2004 by Quentin Stott and Simon Dawson, Reflex grew quickly through the advent of Section 16/21 machines with products such as Fortune £500, and also trail blazed lottery machines in private members clubs leading to the introduction of the category B3A machine under the 2005 Gambling Act. Despite enjoying widespread success with its digital Cat C GamePro, Reflex continues to adopt a twin pronged strategy championing the importance of strong analogue machines to the pub sector with a Cat C release rate of one new model per month.
3volution was founded in 2011 by Louise Handley, Tim Stone and Jonathan Priestley. The firm has 7 partners and 21 employees. It specialises in all aspects of commercial, corporate, litigation and intellectual property law.